Dairy Plans IPO

Mexico’s Grupo Lala is planning to hold an IPO to raise funds for growth, according to regulatory documents. The size and timing remain to be determined, though the dairy products producer is expected to raise less than $1bn-equivalent. Lala is seeking funds to repay bank debt and for its growth plans, which include investments in its existing capacities as well as possible acquisitions in Mexico, Central America and “new geographies.” Lala booked MXP4.76bn ($370m) in Ebitda in 2012, up from MXP4.10bn in 2011. JPMorgan is global coordinator on the transaction, and is joined by Morgan Stanley and BBVA.